james16 Chart Thread

Quoting pn1

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Hello guys.
The current gbp aud level looks good what do you think Mike, Jaroo, Ghous, Pinbar, Bluetrader, SC and many others.

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Quoting pn1

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Hello guys.
The current gbp aud level looks good what do you think Mike, Jaroo, Ghous, Pinbar, Bluetrader, SC and many others.

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Quoting pn1

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This is how 1 hr looks. It is currently below the 150 ema.

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Quoting mbqb11

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Hey PN1

I am a bit confused on how you are entering and using the fibs....

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Quoting Pinbar

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Doesn't look so like a very good area to be doing anything, till we get above or below this band.

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Quoting aserbfx

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gci. only for charting.
i trade them directly via interactive brokers.

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Quoting pn1

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Hey Mike
I am trying to take a touch trade above the 1.6 level. As the market is currently slowing down I am looking for a quick move up and move my stops to BE. As far as the fib goes I was trying to show the S/R level. Still not quite sure how you would manage this trade or are you still in it. BTW I also took the entry at the bottom of the box but closed the position at 1.6 level.

Also one more question: Won't you consider the move from top to bottom of the box as swing for drawing fibs.

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Quoting mbqb11

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Hey PN1

I cant really see the need to draw a swing for fibs being stuck in the box. That is what confused me about your entry above 1.6. Too me this is sort of just buying right at the mid point of the box. Again it may be something you do that works so that is why i asked. I got stopped out at b/e missing my take profit(as shown in the chart) by a handful of pips. What I pasted those for was to show you my thought process for entry.

Best
Mike

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Quoting pn1

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Thanks Mike. Maybe I was a bit curious of being in the trade. But don't you consider it to be the retest of the 1.6 level after break.

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Quoting mbqb11

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Hey Pn1

Yep it is, but that is why I was confused about you wanting to buy so much higher up. To me the trade will have been well under way and it makes more sense (in my eyes) to then be buying at the 1.6. Especially since were stuck in a very choppy tight range. So for example taking a touch trade buy FTB(first time back) to the 1.6 would have got price to bounce some 40 odd pips. Again don't let me talk you out or into anything, just sharing what I see here too

Best
Mike

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Quoting Pinbar

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IMHO this is a little confusing also, and as Ghous pointed out, it is the month of December with a lot of public holidays approaching.

We have a Monthly BEOB, A weekly BEOB and a Weekly Bullish PB.

As we know, a BEOB will often retrace to the low of the previous bar, the weekly BEOB is just above the tip of the PB. The Monthly BEOB Previous bar low is right at the 50 fibo.

I am giving more weight to the bearish side right now, that said, if that PB high breaks, it could well make it up to the monthly BEOB Previous bar low and the 50 fibo....

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Quoting mbqb11

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Hey PN1

I cant really see the need to draw a swing for fibs being stuck in the box. That is what confused me about your entry above 1.6. Too me this is sort of just buying right at the mid point of the box. Again it may be something you do that works so that is why i asked. I got stopped out at b/e missing my take profit(as shown in the chart) by a handful of pips. What I pasted those for was to show you my thought process for entry.

Best
Mike

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Quoting spookie94

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This one looks similar to your E/U weekly PB. I cancled this trade because it didn't break. SC and Jarroo reminded me to watch out for the BEOB before a PB.

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Quoting spookie94

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Hey Mike, when your trade gets near the FTA do you ever move down to a lower TF to see if it makes sense to exit early?

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Quoting Adilius07

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Hey Aser, may I ask, how do you trade stocks - IB don't have CFD's I think, so you go with stock themselves or options maybe?
Shorting a stock is sometimes a problem, how do you deal with it?

You know that I also love to follow stocks. Is just I cannot find the best way to trade them, still uncomfortable with options and stocks themselves are quite expensive to trade and not easily shortable. That's why just thought to hear and learn from you, how you do it?

And J16 is just perfect method to trade them, imho.

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Quoting aserbfx

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i take the stocks themselves.
i don't want to promote IB here, but the costs are really resonable. for us-stocks they charge 0.005 usd (!) per share. german stocks are 1% of the value (or max. 39 eur).
you can find a list of shortable stocks on their website. there are more then enough, imho (otherwise take cfds).
rock on!

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Quoting Adilius07

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Thanks for reply Aser. They got CFD's too?

I mean not the commisions that expensive but the cost of stocks themselves. What if I see some good setup on the expensive stock like GOOG or something - I count not buy it according to my MM.

I heard a lot of good reviews about IB. I have TOS which is good too, but they don't have CFD's and I don't have enough money in there to trade stocks...

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